TEL AVIV, Israel--(BUSINESS WIRE)--The Meier-on-Rothschild, a 42-story ultra-luxury residential tower
designed by Pritzker Prize-winning architect Richard Meier and developed
by Berggruen Residential Ltd., a joint venture between Berggruen
Development, the U.S.-based private investment firm and Hagag-Cohen
Group, has announced that The Palace in the Sky, a 15,257-square-foot
(1,418 sqm) villa on the 38th and 39th floors, is for sale. Offered at
$50 million, the palatial penthouse is the most expensive apartment ever
for sale in Tel Aviv. Nicolas Berggruen and Yigal Zemah initiated the
idea for the Meier-on-Rothschild, a building of world-class caliber that
would push the envelope regarding the current local construction and
design standards in Israel, in 2006.

Owning a penthouse at the Meier-on-Rothschild, selected as the most
beautiful tower in Tel Aviv before it was even built, is a once in a
lifetime opportunity to live at Tel Aviv’s most prestigious address.
Located at 36 Rothschild Boulevard, Meier-on-Rothschild is 65 percent
pre-sold and on track for completion in the first quarter of 2014.

“We’ve been successful in our effort to stretch the boundaries of luxury
residential buildings in Israel by designing the most luxurious
penthouse in Israel, The Palace in the Sky,” said Yigal Zemah, CEO of
Berggruen Residential.

Meier-on-Rothschild’s remaining three penthouses include The Royal
Penthouse, a 7,833-square-foot (728 sqm) estate on the 40th
floor; the Rothschild Summit, a 6,520-square-foot (607 sqm) townhouse on
the 41st and 42nd floors; and The Palace in the
Sky. All penthouses feature 360-degree views, 10-foot (3 meter)
ceilings, Jacuzzis, generous outdoor terraces, private elevators, and
more.

Rising 590 feet (180 meters), the modernist white and transparent tower
will put Richard Meier’s signature on the Tel Aviv skyline. Known as
“The White City,” Tel Aviv’s architectural vernacular is strongly
influenced by the 1930s Bauhaus-style, characterized by functionality
and minimalism. Meier-on-Rothschild is a fresh interpretation of this
idea.

“To be able to give something beautiful and unique to this extraordinary
city, Tel Aviv, is the fulfillment of a lifetime dream,” said Meier.

Meier-on-Rothschild contains 141 units boasting 10-foot (3 meter)
ceilings and unparalleled views. Each 8,450-square-foot floor (785 sqm)
can be a single residence or divided into two or four units, and will
feature 540 square feet (50 sqm) of outdoor terraces, and a “Smart Home”
system for controlling electric, communications and security functions.
Amenities include a luxurious spa, fitness center, relaxation lounge,
treatment room, a 25-meter swimming pool, Jacuzzi; and a wine cellar
that will double as an entertaining facility, and a 24-hour concierge
services to assist the tenants. Prices at Meier-on-Rothschild range from
$1,100 to $1,700 per square foot ($11,000 to $17,000 per sqm);
penthouses are priced at $3,000 per square foot ($30,000 per sqm).